Yes, its all mathematically related.
Local trends affect it and I’d say serve to change the multiplier if you can think of it in those terms.
Say 10 years ago, a particular La Jolla house was X 3 a particular El cajon house.
2 years ago, it would ahve still been 3X, unless the higher $$ had more liars loans seekers, then it becomes 4 or 5 X.
Now, El cajon has more offices and highways comming in. It could now make up extra ground and be 1/3 the LJ house again. Then more liars loans are sold to El cajon. It can gain more on LJ. Then the market collapses with liar loans that reset leading the way. That means LJ gets hit first. Cos it had Liars loans come in first. At some point LJ is less than 3 X. Soon EC gets liars loans trouble. It crashes to the 1/3rd LJ price.
The probem in most of this is … at any given instant someone can say, see I told ya, the nicer areas aren’t getting hit … wait for it to fully unravel, then again, we are always in the middle of somehting ravelling or un ravelling.
Cool.
Cow_tipping.